How an HSA can be viewed as a flexible tax-favored investment
This article shows how clients can benefit from viewing a health savings account as a flexible tax-favored investment strategy.
Personal Financial Planning
Opportunity zone program still plenty viable for clients with gains
The federal opportunity zone program creates jobs and improves communities, and the tax benefits for investors remain substantial.
Retirement transition: Crucial decisions
A CPA’s advice becomes even more vital once a client retires since poor decisions about Social Security, Medicare, and other retirement funding strategies will hamper clients for the rest of their lives.
Indirect gift tax considerations for 2021
It is important to consider some of the less-obvious gifts when you are advising clients who are intent on using up their full $11.7 million basic exclusion amount before the end of the year.
Planning with charitable lead trusts
Today’s low interest rates make charitable lead trusts a more powerful option for tax-efficient estate planning.
Importance of purchase price allocation in real estate transactions
In a year when real estate prices are soaring in many areas of the country, these easily overlooked allocations can have a significant tax impact.
Cryptoassets: What to keep in mind in 2022
This article discusses four things for financial and tax advisers to keep in mind when working with clients holding cryptoassets.
Seven strategies to accelerate income in response to increasing rates
Due to concern about tax rate increases, some taxpayers may be looking to accelerate income. While income acceleration does not make sense in all circumstances, this article outlines seven strategies for accelerating income when it does.
Investors are (legally) shielding crypto gains in opportunity zones
The opportunity zone program offers a solution for deferring gains and allows investors to diversify into real estate or operating businesses.
Helping a client benefit from an intentionally defective grantor trust
These trusts can be advantageous to wealthier clients, but their future use in estate planning is threatened by current legislative proposals.
IRS makes retirement account inflation adjustments for 2022
The IRS issued the adjusted ceilings, thresholds, and limitations for various retirement plans and individual retirement accounts for 2022.
Using donor-advised funds in 2021 (and beyond)
Donor-advised funds have increased in popularity because of recent legislative changes that affect charitable giving.
Recent developments in estate planning: Part 2
This second part of an annual update examining developments in estate, trust, and gift taxation covers recent court cases, proposed regulations, and other IRS guidance on estate tax.
The grantor trust rules: An exploited mismatch
This article discusses the history of the grantor trust rules, how they are exploited to avoid taxes, and ways the rules might be reformed to prevent them from being used for tax avoidance.
Finding the right capital gains tax strategy for your client
With potential tax hikes looming, CPAs can help clients manage capital gains taxes with the right strategy.
Replacing your ‘how’ with a ‘why’ approach to PFP services
You must know why your clients are seeking your advice before building a financial plan that fits their needs.
Individual tax update
This semiannual update surveys recent federal tax developments involving individuals.
Commercial real estate: Debt restructuring and planning
As many companies continue to work remotely and demand for office space dries up, landlords and banks may be forced to renegotiate debt agreements or foreclose on assets, which could have significant tax consequences.
Taxation of qualified tuition plan contributions and distributions
Taxpayers can avoid unplanned taxes and penalties by carefully following rules for contributions to and distributions from tax-favored education savings vehicles and making sure distributed funds are used for "qualified higher education expenses."
Sorting the tax consequences of settlements and judgments
This article discusses issues taxpayers should consider during a litigation or arbitration process.
